Will Obamanomics slow the economy?

September 20, 2010

These two charts pretty well sum up one version of the economic impact of the White House tax plan — such as raising high-end tax rates — at least according to a computer model run by the conservative Heritage Foundation. You can disagree with the modelling, I suppose. But I am not sure any model would show higher taxes boosting the economy right now.

obamatax2

obamatax

3 comments

We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/

For reference, can you also show the Heritage Foundation’s analysis from 1993 that summed up the impacts to GDP and employment in 1994-2000 that would result from the tax increases on higher incomes proposed by the Clinton administration (during a recession)? Or their predictions from 2001 of the growth in 2002-2010 that would be fueled by the Bush administration’s tax cuts for those high incomes? That would be a big help in analyzing this data and making conclusions about its validity.

Posted by maczieg | Report as abusive

The rich will not feel the little increase in taxes. Remember we are just putting their tax bracket BACK where it was when Bush and co. reduced that tax. It was passes WITH the understanding it would be temporary! This is such a poor slanted article I wonder why I bother reading and commenting.

Posted by dennisaa | Report as abusive

the destruction of the u.s. in the making , he is doing what no al qaida ever could .

Posted by chrisvb | Report as abusive